TOPLINE
Senate Majority Leader Mitch McConnell (R-Ky.) Confirmed Tuesday that Republican lawmakers support a second round of stimulus checks, but the amount of payments and income restrictions have yet to be determined. have revealed.
Senate Majority Leader Mitch McConnell (R-KY) speaks to media after weekly policy lunches … [+]
KEY FACTS
“We want another round of direct payments to help American families continue to drive our national return,” McConnell said in the Senate Tuesday.
Democrats in Congress and President Trump are also on board with the second round of checks.
Pursuant to the $ 2.2 billion CARES Act, the IRS sent direct payments of $ 1,200 to qualified Americans who earn less than $ 75,000 per year (or $ 150,000 for couples filing jointly), plus $ 500 for dependent children under 17 years.
It is not yet clear if the next round of checks will be the same as the direct payments of the CARES Law; Some have speculated that Republicans will want to lower the income threshold and narrow the reach of recipients to those who make $ 40,000 a year or less.
Key background
Lawmakers returned to Washington this week to discuss the next, and probably the last, round of bailout legislation before setting off again for an August recess. They are strongly divided on a number of issues, from helping state and local governments to financing to reopen schools, expand unemployment, and protect corporate responsibility. McConnell is expected to release the Republican Party’s proposed bill sometime this week.
Further reading
21 Republican Governors Push for “Common Sense” Coronavirus Liability Protections in Upcoming Stimulus Bill (Forbes)
Republican leaders meet Trump on stimulus package: this is what we know (Forbes)
Report: Trump Wants To Block Funding For Virus Testing, CDC In Next Stimulus Package (Forbes)
Senior Republican lawmaker says there will be no stimulus bill until August (Forbes)
